Traders Purchase High Volume of Amplify Energy Put Options (NYSE:AMPY)

Key Points

• Amplify Energy Corp. experienced a significant surge in put option trading, with 6,070 options purchased, marking a 203% increase over its usual volume of 2,003 options.
• The company's stock was down by $0.18 to $5.31, with a market capitalization of $215.06 million and recent earnings missing analyst estimates.
• Insider purchases have increased significantly, with Directors acquiring a total of 425,000 shares in the last quarter, demonstrating renewed confidence in the company's performance.

Amplify Energy Corp. (NYSE:AMPY - Get Free Report) was the target of unusually large options trading on Tuesday. Stock investors purchased 6,070 put options on the company. This represents an increase of approximately 203% compared to the typical volume of 2,003 put options.

Amplify Energy Price Performance

Shares of AMPY stock traded down $0.18 during trading hours on Tuesday, reaching $5.31. The company's stock had a trading volume of 641,236 shares, compared to its average volume of 876,540. The firm's 50 day simple moving average is $4.09 and its 200-day simple moving average is $3.47. The company has a market capitalization of $215.06 million, a price-to-earnings ratio of 15.19 and a beta of 0.52. Amplify Energy has a fifty-two week low of $2.27 and a fifty-two week high of $7.35. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.32.

Amplify Energy (NYSE:AMPY - Get Free Report) last issued its earnings results on Wednesday, August 6th. The company reported ($0.10) earnings per share for the quarter, missing analysts' consensus estimates of $0.02 by ($0.12). The business had revenue of $68.36 million during the quarter, compared to analyst estimates of $68.51 million. Amplify Energy had a net margin of 5.64% and a return on equity of 6.61%. Sell-side analysts forecast that Amplify Energy will post 1.25 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. Alliance Global Partners assumed coverage on Amplify Energy in a research report on Monday, June 30th. They set a "buy" rating and a $6.00 price target for the company. Wall Street Zen lowered Amplify Energy from a "hold" rating to a "sell" rating in a research note on Friday, June 6th. Finally, Benchmark restated a "buy" rating on shares of Amplify Energy in a research note on Thursday, July 3rd. Two equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of $8.50.

Insider Transactions at Amplify Energy

In other Amplify Energy news, Director Clint D. Coghill purchased 65,494 shares of the company's stock in a transaction on Thursday, August 14th. The shares were bought at an average cost of $3.89 per share, with a total value of $254,771.66. Following the transaction, the director directly owned 3,504,347 shares in the company, valued at approximately $13,631,909.83. This represents a 1.90% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider James Frew acquired 25,000 shares of the firm's stock in a transaction dated Tuesday, August 12th. The shares were purchased at an average cost of $3.70 per share, for a total transaction of $92,500.00. Following the acquisition, the insider directly owned 129,222 shares in the company, valued at $478,121.40. This represents a 23.99% increase in their position. The disclosure for this purchase can be found here. Insiders have bought a total of 425,000 shares of company stock valued at $1,603,845 in the last quarter. Company insiders own 10.30% of the company's stock.

Institutional Investors Weigh In On Amplify Energy

A number of large investors have recently modified their holdings of AMPY. Strs Ohio acquired a new stake in shares of Amplify Energy in the 1st quarter valued at $36,000. BNP Paribas Financial Markets acquired a new stake in shares of Amplify Energy during the 4th quarter valued at $38,000. Hudson Bay Capital Management LP acquired a new stake in shares of Amplify Energy during the 2nd quarter valued at $38,000. Wagner Wealth Management LLC acquired a new stake in shares of Amplify Energy during the 2nd quarter valued at $43,000. Finally, Ground Swell Capital LLC acquired a new stake in shares of Amplify Energy during the 2nd quarter valued at $54,000. Institutional investors and hedge funds own 42.84% of the company's stock.

About Amplify Energy

Amplify Energy Corp., together with its subsidiaries, engages in the acquisition, development, exploitation, and production of oil and natural gas properties in the United States. The company's properties consist of operated and non-operated working interests in producing and undeveloped leasehold acreage, as well as working interests in identified producing wells located in Oklahoma, the Rockies, federal waters offshore Southern California, East Texas/North Louisiana, and Eagle Ford.

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